TEXT-Fitch:No immediate rtg impact on Michelin from Hankook sale


(The following statement was released by the rating agency) Nov 09- Fitch Ratings says that Michelin's planned disposal of its 9.98% stake in Korea's leading tyre manufacturer, Hankook Tire , has no immediate impact on Michelin's rating ('BBB'/Positive). From a financial perspective, the impact of the Hankook sale on Michelin's leverage metrics will be moderate in view of the group's net debt of EUR2.5bn at end-2010. Fitch expects the disposal proceeds to amount to EUR425m, if the entire ...

Premium Content (PAID Subscription Required)

"TEXT-Fitch:No immediate rtg impact on Michelin from Hankook sale" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!

For WardsAuto.com pricing and subscription information please contact
Amber McLincha by email: amclincha@wardsauto.com or phone: (248) 799-2622

Current subscribers, please login or CLICK for support information.

WardsAuto Blogs
Aug 28, 2014

Why Young People Shun Auto Industry 4

The difference today is automakers have stopped selling the dream in favor of selling the deal. Dream cars disappeared decades ago, and concept cars are merely production cars with the door handles and side mirrors removed....More
Aug 25, 2014

Finally, Voice of Reason

The concept of an autopilot is not new, particularly in aerospace. But Owens notes even the airline industry has never crossed that threshold by placing hundreds of lives solely in the digital hands of a computer....More
Aug 21, 2014

Michigan, Great Lakes Region Still Core of North American Production

The Great Lakes Region is well-positioned to remain a North American production hub for years, perhaps well into the next decade....More

Sponsored Introduction Continue on to (or wait seconds) ×